Gray Television, Inc. (NYSE: GTN) is a television broadcast company headquartered in Atlanta, Georgia, whose primary mission is to provide quality news and entertainment services to the local markets in which the Company operates. GTN commitment to local interests and a selective acquisition strategy provides growth opportunities.
Company owns 36 stations and operates television stations broadcasting 40 primary channels and 45 secondary channels in 30 television markets. As a group, Gray’s stations reach more than 6% of every household in the US.
GTN announced that it has extended the expiration date of its offer to exchange up to $300,000,000 of new 7% Senior Notes due 2020 (the “new notes”) that have been registered under the Securities Act of 1933 for an equal amount of outstanding unregistered 7% Senior Notes due 2020 (the “old notes”).
As a result of the extension, the exchange offer is now scheduled to expire at 5:00 p.m., New York City time, on January 25, 2013 , unless further extended. The exchange offer was originally set to expire at 5:00 p.m. , New York City time, on January 22 , 2013.
As of January 22, tenders of approximately $297,710,000 aggregate principal amount, or 99.24%, of the old notes have been received pursuant to the exchange offer.